Egypt Approves Seven Oil, Gas Agreements

Egypt's cabinet has approved seven new oil and gas exploration agreements designed to bring investment of at least $1.2 billion to the sector, news agency Reuters quoted oil minister Sherif Ismail as saying on Sunday.

BP, Dana Gas Emirati, Petroceltic International, and Sea Dragon Energy are some of the firms which have signed the deal.

According to a statement by oil ministry, agreements will now be sent for ratification to Interim President Adli Mansour, a statement from the oil ministry said.

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